You need a siteplan that you can present to the city.

Plus you can claim depreciation on any portion of the real estate that has debt on it and the gains (if you are in the right city) far outweigh the UBIT/UDFI costs.

I guess my next question is, why Kansas City? 

In most of Raleigh city limits specifically, the lack of room to build new construction developments has stirred the folks in zoning.

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

But I get it in the lower value assets of the mid west and rust belt cities wholesalers dominate because they spend 100s of thousands in marketing for those type of assets..

Call your city and see if that's large enough, I think you need more like 10-12 ft width and 15 - 20 ft length.

Starting with the Right PropertyGiven that this is your first STR and you’re planning to manage remotely, I’d suggest focusing on a market with a strong local infrastructure for short-term rentals—like Panama City Beach or Destin.

Many people get bored after a week or two and won't want to stay longer as there are hardly any cities and not much happening and there's so much jungle you can look at in a day (it's a great place for quiet retirees).

Population and economic growth, strong tourism, proximity to other New England cities.